| DEBT INSTRUMENTS AT AMORTIZED COST |
| 9) | | DEBT INSTRUMENTS AT AMORTIZED
COST |
| a) | Securities at amortized cost |
| Schedule of securities at amortized cost |
|
|
|
|
| |
R$ thousands |
| Amortized cost |
Gross unrealized gains (1) |
Gross unrealized losses (1) |
Fair Value |
| Securities: |
|
|
|
|
| Brazilian government bonds |
135,339,275 |
505,190 |
(6,159,482) |
129,684,983 |
| Bank debt securities and corporate debt securities |
124,207,296 |
1,842,639 |
(4,526,832) |
121,523,103 |
| Balance on December 31, 2025 |
259,546,571 |
2,347,829 |
(10,686,314) |
251,208,086 |
| |
|
|
|
|
| Securities: |
|
|
|
|
| Brazilian government bonds |
145,278,232 |
3,032,908 |
(8,559,744) |
139,751,396 |
| Bank debt securities and corporate debt securities |
121,713,735 |
23,020 |
(392,053) |
121,344,702 |
| Balance on December 31, 2024 |
266,991,967 |
3,055,928 |
(8,951,797) |
261,096,098 |
| (1) | | Unrealized gains and losses on assets at amortized cost have not been recognized in comprehensive
income. |
| Schedule of maturity |
|
|
|
|
| |
R$ thousands |
| On December 31, 2025 |
On December 31, 2024 |
| Amortized cost |
Fair Value |
Amortized cost |
Fair Value |
| Due within one year |
54,891,298 |
54,651,238 |
60,043,632 |
59,988,685 |
| From 1 to 5 years |
138,622,149 |
137,128,315 |
148,260,712 |
147,475,479 |
| From 5 to 10 years |
41,306,602 |
37,109,312 |
32,891,366 |
32,474,161 |
| Over 10 years |
24,726,522 |
22,319,221 |
25,796,257 |
21,157,773 |
| Total |
259,546,571 |
251,208,086 |
266,991,967 |
261,096,098 |
The financial instruments pledged as collateral,
classified as financial assets at amortized cost, totalled R$51,575,375 thousand on December 31, 2025 (R$75,296,338 thousand on December
31, 2024), being composed mostly of Brazilian government bonds.
| c) | Reconciliation of expected credit losses of financial assets at amortized cost |
| Schedule of reconciliation of expected losses of financial assets at amortized cost |
|
|
|
|
| |
R$ thousands |
| Stage 1 |
Stage 2 |
Stage 3 |
Total (1) |
| Expected credit losses of financial assets at amortized cost on December 31, 2023 |
370,902 |
186,825 |
4,587,539 |
5,145,266 |
| Transferred to Stage 1 |
- |
(19,638) |
(2,113) |
(21,751) |
| Transferred to Stage 2 |
(1,291) |
- |
(390) |
(1,681) |
| Transferred to Stage 3 |
(21,207) |
(34,942) |
- |
(56,149) |
| Transfer from Stage 1 |
- |
1,291 |
21,207 |
22,498 |
| Transfer from Stage 2 |
19,638 |
- |
34,942 |
54,580 |
| Transfer from Stage 3 |
2,113 |
390 |
- |
2,503 |
| New assets originated / (Assets settled or paid)/Remeasurement of expected credit losses |
333,678 |
(83,815) |
761,871 |
1,011,734 |
| Expected credit losses of financial assets at amortized cost on December 31, 2024 |
703,833 |
50,111 |
5,403,056 |
6,157,000 |
| Transferred to Stage 1 |
- |
(1,740) |
(4,970) |
(6,710) |
| Transferred to Stage 2 |
(13,372) |
- |
(60,084) |
(73,456) |
| Transferred to Stage 3 |
(103,901) |
(20,530) |
- |
(124,431) |
| Transfer from Stage 1 |
- |
13,372 |
103,901 |
117,273 |
| Transfer from Stage 2 |
1,740 |
- |
20,530 |
22,270 |
| Transfer from Stage 3 |
4,970 |
60,084 |
- |
65,054 |
| New assets originated / (Assets settled or paid)/Remeasurement of expected credit losses |
32,296 |
150,206 |
(2,775,010) |
(2,592,508) |
| Expected credit losses of financial assets at amortized cost on December 31, 2025 |
625,566 |
251,503 |
2,687,423 |
3,564,492 |
| (1) | | The expected credit losses expense is recorded as “Expected Credit Losses on Other
Financial Assets” in the Consolidated Statement of Income. |
|